Natural gas forwards markets showed no signs of hitting the brakes June 24-30 as scorching temperatures continued to drive power burn and storage data once again reflected a tighter supply-demand balance.
Articles from July
The expiring July natural gas futures contract is expected to open 10 cents higher Tuesday morning at $2.82 as weather forecasts shift to a re-emergence of warmer than normal patterns across much of the country. Overnight oil markets rebounded.
July natural gas is set to open 2 cents higher Wednesday morning at $2.62 as traders eye a dominant high-pressure ridge expected to usher in warm temperatures. Overnight oil markets fell.
Natural gas forwards markets tacked on another 20 cents on average between June 3 and 9 as market players were thrown by this week’s reported storage injection from the U.S. Energy Information Administration, according to NGI’s Forward Look.
July natural gas is set to open a penny higher Wednesday morning at $2.48 as traders see the market supported by warm weather systems expected to dominate much of the country next week. Overnight oil markets rose.
July natural gas is expected to open 4 cents lower Tuesday morning at $2.43 as overnight weather data showed little change and buyers face a technically overbought market. Overnight oil markets rose.
July natural gas is expected to open 5 cents higher Wednesday morning at $2.34 as traders attempt to digest a significant shift in medium-term weather patterns and cogitate on technical price objectives. Overnight oil markets fell.
June natural gas is expected to open 3 cents higher Tuesday morning at $2.08 as traders see a steady technical picture and look beyond what looks to be an oversupplied market. Overnight oil markets advanced.